Tag Archives | Iraqi

The latest Iraq economy news – industry, investment, trade, exports and more – brought to you by Iraq Business News

Confectionery Group Sets Dh100m Sales Target

HMBS Group, one of the largest business conglomerates in Iraq, plans to increase sales of its confectionery products by expanding its distribution network to 32 countries this year, a top company executive said. The group has invested Dh220 million to set up a modern confectionery plant in Jebel Ali as a part of a Dh370-million […]

Iraq Sees '10 Oil Output Up 0.25 Million B/D on Basra Deals

Iraq's crude oil production could increase by more than 250,000 barrels a day by the end of this year as some oil deals recently signed with international oil companies to develop giant Iraqi oil fields have become effective, the head of the country's largest oil firm, the South Oil Co., said Thursday. BP PLC (BP) […]

ISX Closes at 91 points on Monday

The Iraqi Stock Exchange (ISX) index registered a slight increase of 0.32% after six consecutive sessions to close at 91.16 points as rates of 11 joint-stock companies’ shares went up. Today’s session saw shares of 30 out of a total 81 electronically-registered joint-stock companies exchanging hands with 9 down, 11 up and 10 retaining their […]

Enoc hosts Kurdistan Premier

Emirates National Oil Company (Enoc)  has recently hosted His Excellency Dr Barham Salih, Prime Minister of Iraqi Kurdistan, on a tour of the Enoc Processing Company. Saeed Abdullah Khoory, Group Chief Executive of Enoc presented an overview of the company before  a tour of the refinery and the Dubai Natural Gas Company Limited (DUGAS). Khoory […]

Iraq Mulls Kurdistan Expense Claims

The federal government could end up paying for exploration and extraction costs of oil companies working in Iraqi Kurdistan on a cost only basis said Iraqi Oil Minister Hussain Shahristani today. "We will not pay any profits to the companies but we will look into the bills for the work they carried out," Reuters quoted […]

Banks to Offer Loans to Government Personnel

The Iraqi Ministry of Finance has given instructions to the Rasheed and Rafidayn banks to grant loans to full-time government employees. “The amount available is 5 million Iraqi dinars with an interest rate of 6% to be repaid within five years,” an under-secretary of state for banking affairs, Diyaa al-Khayoon, told Aswat al-Iraq news agency.

Fair for Women Handmade Products in Arbil

A fair for women handmade products has been opened in Arbil city, with the participation of 150 women from the provinces of Kirkuk, Arbil, and Sulaimaniya. The fair that started on Thursday at the capital of the Iraqi Kurdistan region is considered the first of its kind in Iraq.

Iraq on Road to Stamping out Oil Graft

Iraq took a step towards leaving its reputation for corruption and the misuse of oil cash behind today, as the Extractive Industries Transparency Initiative (EITI) board accepted its bid to become a candidate member. Iraq now has two years to implement EITI standards in financial reporting within its oil sector. It must also undergo validation […]

Iraqi Fleet on 1st Journey in 10 Years

The Iraqi fleet has launched its first journey around the world in 10 years with the departure of one of its ships from an Egyptian port. “The Iraqi al-Nasser, carrying 16,250 tons, has set off from the Egyptian port of al-Quseer heading to Malaysian ports,” the Iraqi Ministry of Transportation said in a statement received […]

Cabinet Approves Law to Maintain Irrigation Networks

The Iraqi Council of Ministers has approved an amendment to the law no. 12 of 1995 related to the maintenance of irrigation networks. “The decision comes to show the government’s determination to preserve irrigation networks,” Dr. Ali al-Dabbagh, the official spokesperson for the Iraqi government, said in a release on Monday. He said that the […]

Russia's Lukoil to Invest 30 Bln Dollars in Iraqi Oil Field

Russian state energy monopoly Lukoil will invest 30 billion U.S. dollars with its foreign partners in the development of the West Qurna-2 oil field in Iraq, said the company's CEO Monday. First phase of investment to the oil field, whose annual output is estimated at 95 million metric tons, will reach 4.5 billion dollars, said […]